liz wall the alona show is up in thirty minutes and of course i will be back here at seven pm with more news and in-depth interviews for you soon. twenty years ago in the largest country in. the certificates of. the law school janitor. where did it take to. be official obligation to go on the phone called talk from the. lights on the. video on demand all keys money will come to an omission street now in the palm of your.

machine on the. eve. of the. max kaiser this is the kaiser report this is the. dog thing. on a lark to they call them so there are all over europe things there are probably more well max yes bankers unelected bankers have been put into power in italy and

in greece this past week and in occupied london stock exchange they're fighting back they know how to. right crash j.p. morgan by silver you see from the sign that's right there still respect through the heart of the bankers as the only way to kill them you know iceland just as a side they sell to gov their terrorist bankers but they are back so they didn't kill them dead in the off speaking of silver though let's move over to the east and we often talk about the collapse of the us empire and the shift of power and wealth from west to east and we're going to look at a few headlines from a new site called the china money report first headline chinese silver investment going parabolic the china daily reported that the trading volume of silver forwards on the shanghai gold exchange china's only exchange for the precious metal surged seven hundred fifty one percent year on year in two thousand and ten meanwhile the

volume in september of this year was more than six times that of the same period in two thousand and ten six times six times learning chinese lives over you know i don't understand what people go see them here trying to point remember the greenspan put you know whatever the market went down they lowered interest rates and bailed out the yacht owners in greenwich connecticut this to china put you're buying gold and silver you're not going to lose because china is right behind you find tons of it but look at how silver is treated there six fold increase in the imports in september alone over in the u.s. we have biggest player in the silver market is jamie dimon and j.p. morgan of course which is they have a huge naked short position they're shorting more silver than there is mined in the history of the world practically that's right they picked it up they inherited it when they took over bear stearns that's correct now max with this in mind i'm looking at this next headline from the china money report the fin china scolds

woman for having nothing of value to steal so women in china woke up and found an intruder in our apartment in the middle of the night but rather than run away the guy. stayed there and the thief launched into a tirade cast sizing the woman for having nothing of value to steal he criticize her for more than ten minutes telling her she needs to get educated work harder and accumulate some kind of wealth before she gets old the man went on i am but a simple thief yet i have more than you so i thought this could possibly be jamie dying when he read that there was all the silver going to try and id was like a cat burglar around looking for some silver to meet a snake in short physicians well i think something a lot of the translation actually because the woman was actually sleeping on a mattress filled with u.s. dollars and as the thief pointed out there's little value in those i want i want real look i want silver but it's also i think the motto for the one percent you see

the occupy wall street people they're out there chicago los angeles denver and new york los angeles london oh around the world and what happens to them the bankers throw notes out the window saying we are the one percent we're better than you we create more wealth and i think that's a good motto this guy thinks he's one of the one percent i am but a simple thief yet i have more than you and that's the truth here they are thieves and that's why they have more than us and they have they believe the moral authority as. well let's move on to what happens to the thieves in china chinese fund manager was sentenced to death after killing investors out of one billion u.s. dollars two brothers and their father were sentenced to death for cheating fifteen thousand and out of over one point one billion dollars in east china. province so the family illegally raised one point two billion dollars between two thousand and three and two thousand and eight before they were taken into police custody in two thousand and eight holding the truth from investors that their company had been

losing money for years so max compare this to what happens in america i think it's a good deterrent i think that you need a deterrent and if it is. execution then i think the chinese are on the something that's why people are putting their money into chinese banks taking them out of the u.s. banks there's no terms for fraud in american banks and them afloat all j.p. morgan is a great example so that's why people are moving their money out of the u.s. banks in the chinese banks because the chinese are willing to execute fraudsters that's a good sign and the other thing we hear over and over and over again is that we bottom ninety nine percent must compete with china get with it cut your wages compete with them how do you expect us wealth creators to create jobs for you if you want pension plans if you want health care if you want wages living wages look at the chinese well why do we have to live like the chinese laborer when they don't

have to live like the top one percent in china quid pro quo betting there's got to be some reciprocity this is what obama did mention in honolulu he says you know and for something in chinese bragging system we like they like execute their bad bankers we're going to start doing that on wall street i mean it really you would find the entire situation change quite dramatically but let's look on into the america and see what happens there are bank of america and j.p. morgan really blocking the return of the m.f. global customer money so this is from jesse's cafe american and he looks at a white paper from thai fon capital management and chicago and the paper says by subordinating customers with collateral and segregated funds to creditors of the m.f. global's the state the trustee is essentially making the creditors the beneficiary of a criminal act the creditors in this case include j.p. morgan and bank of america is m.f. global commingled segregated funds with corporate assets it was

a criminal act paying such a creditors claim with a portion of those commingled funds would make them a beneficiary of that crime that's right this is a remarkable development and the reason. history of bank pilfering of wealth from common people they are now just reaching into segregated accounts themselves and confiscating wealth of directly they're not using credit default swaps they're not using the are kenia of derivatives anymore they're not the skies in their actions they're just stealing money very directly from the accounts you open your account is like oh less money why because these banks stolen this is a new level of insidiousness so tight fund management goes on to say that's a trustee involved in this is the same trustee the same lawyers that manage the bankruptcy of lehman brothers they themselves received one hundred sixty million dollars for handling the bankruptcy of lehman creditors got nothing ok so this

capital management firm says if this bankruptcy is managed the same way as lehman's it will be the end of the united states as a viable jurisdiction for commodity trading congress should use whatever power it has to prevent this from happening so i'm going to cut right now to the next headline because he's pleading with the congress to help him out how members of congress get rich through honest graft so apparently insider trading is legal for congress and a new study out shows that how much congress people have benefited including like john boehner reportedly invested in several health care stocks shortly before killing the public option and last year's legislation nancy pelosi has participated in eight i p o's including some involving companies that had business before her house giving a senator or congress person pre i.p.o. shares in a company is allowed under current rules even though giving them an equivalent

amount in cash would be considered an illegal bribe. that's right they threaten inside information they're totally conflicted and as a rule. to your previous story they're trying to lobby congress to get this story and global cleaned up because total faith in u.s. banking institutions will evaporate but of course as you're pointing out congress is too busy training on inside information and policies made i think are not worth a couple since she was now in washington so the idea of lobbying government to help it is obviously going nowhere well let's look at what the article says it says the problem of course is that not only are these transactions perfectly legal under existing law the people who benefit the most are the ones who write the laws and nationally most members of congress don't seem eager to take away the special benefits that can turn humble public servants into

multimillionaires so flash back max to what i just said earlier in the show where this beef broke into a woman's house in china and he said i am but a simple thief yet i have more money than you present and this is exactly what you're seeing here these are humble public servants they're constantly humble public servants hank paulson was a humble public servant when he left goldman sachs and and gave thirty million dollars in tax breaks by joining government as a humble public servant not run and these initial public offerings as we've talked about on the show they price them so they get to like the group was recently and kept open thirty or forty percent that's graft to people in congress to pay off litigants and to basically perform all manner of fraud its currency on the street to grease the machine to keep this fraud going and then we've got more coming this year facebook is another one coming down the pike that'll be used again to pay people to pass laws to favor facebook for example in the way that they violate

privacy laws well if they want to change the law so that they can violate privacy law they'll give people in congress insider stock. you know get paid off in asylum gras. and it's a quote parker city isn't well it's no wonder that none of the banks have not one single executive from any of these banks have had any investigation any serious investigation into what they what they've done wrong but i want to go to this final headline one honest judge to line political parties federal judge jed rake off is in the news again last week calendar the f.c.c. has plans to settle a fraud cases against citi group for two hundred eighty five million dollars saying that the deal would recruit only a fraction of investors losses that would leave the firm free to reclaim its innocence and private lawsuits over remaining damages so once again citi group is another sort of goldman levy deal thing where they created these mortgage backed securities sold them to investors and then actually bet against the c.d.o. is themselves but in this court case max the f.c.c.

lawyer argued that the judge is entitled to assess whether the proposed settlement is fair adequate and reasonable but not whether it is in the public interest so the washington post says it is unclear whether judges can do much more than criticize and control but it is clear that they can't anytime you do business on wall street you sign a form a new account for that put you into a binding arbitration and you don't go to a jury of your peers this is what i was working on wall street the first thing they taught you they said just get him to sign the new account form and it's karpov steal all the money you want we've got lawyers but rake off in court he's conceded that he must give the f.c.c. significant deference now we just cover the legislative branch of our government the people's government and they aren't going to do anything because they benefit from the insider trading here you have the second of the three branches the judiciary and there are unwilling to do anything so that leaves just the executive

he can assassinate a u.s. citizens that's the only thing that we have left that we could hope for that he does well that's right there's still. oh that's the kind of hope and change i'm looking for all right there are by so much going on the cars report thank you max so go i am much more coming away so stay right there. world. series technology innovation all the list of elements around russia we've got the future covered.

lists. keyser welcome back to the kaiser report time now to go to chicago as big with this catalog of global economic analysis blogspot dot com just search for a miss as well as blogging this is a registered investment advisor for a set up

a separate asset management this welcome to the kaiser report. show max now let's talk about europe met here you talk about the rise of the borg technocrats tell us about it i wish. i didn't take your financial times article that is appropriate here you know we're talking about we should feel government started to fill government immediately we're going to feel girly grease so you know we're going to replace these guys my whole life. we're going to replace these guys. check your cracks no you start. to be. an all powerful and you're going to get things done. by markets. you know literally just whack a mole straight. he was a charmer early by. the sale well you know what i mean.

transformers go off on your guns you know what a strange you know this is the by simply saying you know. all right now on your blog you said something interesting that literally said that the great depositors' they should pull every cent of their money out of the greek banks and mediately so talk us through that a little bit mess absolutely. close to the church my friend. ok sure. and we're seeing a slow steady trend and the only major trend in people falling money out of their savings account and checking accounts embrace and i said to people i know i didn't post on my wall i'm. you know especially christmas just the time of year in which we see these times of default proven by closing in argentina in two thousand was

really you know close revalue their currency. for five years he. greece goes back to trying time. revaluation forty fifty sixty seventy percent goes all over we're going to get annoyed this safe and sane thing to. going to pull their money so they have it in your. very one. and it's very very last year so there's a genuine chance you're sometime this christmas holiday season beginning of the year new years of. priests current. draw us all to the state and. you know you don't have your listing one contract ok so you're saying his part way there is some precedent for this you're

not making it out right prevention but you're saying that given this level of panic among the amongst the posit are they were saying a run on the bank that one of the next steps could be some kind of bank holiday and so i guess there is some chance of that in the eurozone and of course the big question people want to know is they would look at the birth of the u.s. dollar have been a pretty constructive about the u.s. dollar for a while now i would imagine that you don't see anything in the arrows to change your opinion on that oh absolutely not just blow us all these currencies are. pushing pushing us put a timeframe here. probably in european minds friday was greater than the problems in the u.s. so if this is a relative. really all that fond of the u.s. dollar i'm pretty fond of gold their shares you know. for actually states.

expect gold to do well i just expect your free suitors. if you send the bill i think the bureau is cracking parity with us dollars thirty percent are. going to get a pass make the timeframe that really all depends on how this happens max the smart thing to do would be for germany to get out of the euro zone and when all the horses go the abilities graze like europe we've got the bond revolt this happening just because the euro itself is structurally unsound and all the currency every street is just here you. hear all the yachts and the funny part is this we're from early this is not going to be the first all right let's turn our attention to colorado for a second here in chicago and we've got a big scandal m.f.

global and there's a couple of different moving parts to this and all you track this stuff brokaw's link tell us your thoughts on the m.f. global and zero zero zero zero you know there's i think we have accused prominent americans i mean look at the stocks these guys gave themselves huge bonuses. right before our. first meeting wow if you know the wall street. you know all the. street. you know you you should legislate stupidity but if you. against its. own just not right for. you is guilty of obstruction fraudulent conveyance mind you anyone who.

works. right now any. local and you go straight to the time that you asked me to get on leave. who authorized. hoover. zero criminal indictments against all of all criminal indictments aims to be the last thing on anyone's agenda at this point in the case of m.f. global and there's a missing six hundred seven hundred million dollars and apparently the creditors of the company including j.p. morgan and bank of america are claiming that they've got their claims ahead of the actual all segregated accounts that m.f. global is responsible for so this is gone beyond just using fancy a take a bow accounting or off balance sheet francs or derivatives this is all about just

taking well out of people's accounts directly i worked on wall street for many years i mean this is about as bad as you can get in terms of committing outright securities fraud anything i think is bad is this in the last ten or fifteen years i mean this is or. somebody drew this goes beyond bernie madoff well beyond just a few all. these guys i look at where. you know came from. goldman sachs a guy me. who you know. the easy. bowl the sacks i mean a lot you know goldman sachs is pretty amazing for right america they're all trying this and it's going to continue as long as the yes he's here for the rest of all these you know study group was quite. well i mean

the costs only are yours hugh. the jurors are looking for citigroup attorney. oh well he wants to die. he didn't do. you know and if you see pierce he's. truculent right citi group maybe something like your founder julian hours off and the fine was one hundred million members happily so literally. to do illegal things the fines don't even come over. what they may have been doing defraud me it would be cool sure. crazy to parents this this no matter what you were feeling now we're going to hear this. and we're we're just here we are soft. and freddie macin already cost

us please. close to one goalie it's pretty. cool we're throwing. darts. but. all right so you're right in the point that for every billion dollars of money stolen by bank of america citi group or other banks they get fined maybe a hundred fifty are two hundred million dollars so obviously it behooves them to simply continue in that mode there's nothing to stop them and i wanted to make a comparison no china because you write about china on your blog you talk about how american labor might benefit if the wages in the u.s. are more competitive with china on the same and the same vein i can we would you also look for similar just the standards and america that we see in china reason i

bring this up is that china caught hundred million dollars or so or a billion dollar ponzi scheme recently and they executed the perpetrator if you think this might be a good idea for the head of citibank and goldman sachs and j.p. morgan to be executed by the state. we just want to find them take away. just take away all their not. just. the start of all these parish and replace those with. someone who would be a loft. just. now the banks or anyone you know. there. are any of these people believe will. try to correct. you all

the time. you know why they want to. force the past. for a specific location to meet christina romer once. so you know people are asking me how is the deliverance injury rate going. to wake do these priests. going to obama's council of economic experts just not. they say things wants to hear. the truth. and that's the solution the government wants to hear. these.

positions of power and that's just what's happening in the space. you're right mike we've got to cut it off that's all the time we have to have you back on again so thanks so much for being on the kaiser report showing the. all right that's all the time we have i want to thank my guests my search of this and your favorite search engine and my ass-h. and they'll take you right to all of his great stuff you can follow my core mission on twitter admission. you can call also on twitter i caused you can also find us on facebook if you want to send me an e-mail please do so at kaiser report at r t t v dot are you and i saw this nice guy saying by all.

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